Shiba Inu (SHIB) Bearish for the Coming 24Hrs – Price Analysis

• Shiba Inu remains bearish today.
• Massive resistance stands at $0.00003449.
• Shiba Inu currently trades at $0.0000175.

Today’s SHIB outlook reveals bearish market conditions. However, market analysts predict a turnaround as markets appear shattered. Meanwhile, the latest bearish wave saw Shiba Inu losing 77% to $0.00002175 on 24 February 2022 before unveiling a massive upside.

However, Shiba Inu endured dramatic declines amid the latest plummets. That had the meme coin losing most of its value, changing hands around $0.00002175 at this publication. Furthermore, the altcoin seems ready to extend its losses within the coming day or two, eyeing lows of $0.0000017. Nevertheless, events shift in the broad market might see Shiba Inu revealing another projection.

SHIB/USD 4Hr Analysis – Recent Developments

Shiba Inu displays bearish trends as volatility surges, forcing support and resistance lines to open. Meanwhile, the alt becomes increasingly prone to volatility shift. Therefore, enthusiasts need to hold long-term positions in SHIB/USD until the massive volatility phase diminishes.

For now, Shiba Inu’s price remains weak, contemplating further declines. Meanwhile, market players need to observe upcoming reactions as the token can turn bearish or bullish at any time. Crypto investors need to wait for price stability to execute profitable deals.

For now, Shiba Inu stays roughly 50% low from its ATH. The Relative Strength Index at 30 indicated undervalued conditions for SHIB, highlighting further decrease. The Dogecoin competitor’s road with fewer obstacles is the downside. The alt’s resistance stays at $0.00003449, whereas the nearest support sits at $0.00002175.

Currently, the market experiences massive volatility that might see SHIB/USD moving in either direction. Crypto enthusiasts need to wait for stable actions before interacting with the token.

SHIB/USD 1-Day Timeframe – Market Breaks

Shiba Inu presents a bearish outlook. Moreover, volatility seems to decline, making SHIB susceptible to volatility change. Meanwhile, the Bollinger Bands upper limit represents massive resistance at $0.00003449, while the lower limit at $0.00002175 serves as SHIB’s other resistance.

SHIB/USD seems ready to cross beneath the MA curve, signifying bearishness. Meanwhile, the price sees downward trends, highlighting downswings in the upcoming 48hrs. Meanwhile, bears a growing tired, highlighting long-term bullish potential.

The post Shiba Inu (SHIB) Bearish for the Coming 24Hrs – Price Analysis appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/shiba-inu-shib-bearish-for-the-coming-24hrs-price-analysis/
via Bitcoin News
via Bitcoin News Today